That is your opinion, but the fact is that the crypto market cap is over $1 TRILLION and growing. Until you face that reality head on instead of calling it a Ponzi scheme you will not understand what's happening and why.
Yes Ponzi schemes do in fact increase in value, until they don't. Tulips got
really expensive, until they weren't.
Tether, USDC, etc, are propping up Cypto prices by literally minting tokens out of thin air, backed by who knows what (and possibly nothing at all). Printing $billions of these tokens and using them to buy crypto to inflate the crypto prices, haha, it's a massive scam and can't last forever.
The irony being that Tether et al are doing what crypto-bros berate the Fed and other govts and central banks for doing - printing money out of thin air. THat's
exactly what Tether and co are doing for yonks.
Absolutely not what I said at all. You can't divorce it from its context, when I'm talking about people in general vs you making it about me the individual. There's much more to the story but you need to posses a willingness to understand.
Gambling is pretty well understood. As are Ponzi schemes. Neither are particularly good for anyone. Also it's well understood that burning energy and consuming resources for no benefit to anyone except gamblers, is not a useful way to use finite resources, esp when we're supposed to be conscious of our enivoronmental impact.
Look now at all the nonsense "crypto will drive adoption of green energy". Look now at the fossil fuel power plants in the US, that were once mothballed, now being brought back online to power massive crypto farms.
Wow, what green credentials. Nope, crypto isn't green at all. Crypto wants cheap energy, and plentiful energy, and if that means recommissioning fossil fuel plants, then that's what will happen.
Even the more pessimistic IPCC estimates don't predict a future as grim as that. Indeed if we look at SSP2-4.5 which seems the more likely scenario we can expect the following apocalyptic pronouncements:
Truly the end times!
https://www.brookings.edu/research/...onomics-of-climate-change-and-climate-policy/
https://www.ipcc.ch/report/ar6/wg1/#SPM
I don't measure solely in GDP, which is a typically human-centric measurement. Destruction of the planet's ecosystems is a lot worse than a 2% drop in GDP.